REBusinessOnline

Piedmont Office REIT Signs Fintech Firm to 172,000 SF Office Lease in Atlanta’s Central Perimeter District

ATLANTA — Piedmont Office Realty Trust, a metro Atlanta-based office REIT, has signed financial tech firm Deluxe Corp. to a 172,000-square-foot office lease at Glenridge Highlands II in Atlanta. The 20-story office tower is located at 5565 Glenridge Connector in Atlanta’s Central Perimeter submarket. Deluxe plans to bring approximately 700 jobs to metro Atlanta with more to come in the near future. The company plans to invest approximately $12 million to construct, build-out and furnish the …

Georgia, Leasing Activity, Office, Southeast

Heritage Partners Sells Build-to-Suit Medical Facility in Metro D.C. for $39.3M

GLENARDEN, MD. — Heritage Partners has sold Children’s National Prince George’s County, a 60,000-square-foot medical outpatient facility situated within Woodmore Towne Centre in Glenarden. The Annapolis, Md.-based developer sold the newly constructed property to Municipal Acquisitions for $39.3 million, and Municipal Acquisitions has subsequently restructured the lease with the tenant. The deal allows Children’s National Hospital, a Washington, D.C.-based healthcare system, to …

Acquisitions, Healthcare, Maryland, Southeast

Cushman & Wakefield Arranges $37.1M Refinancing Loan for New Seniors Housing Community in Charleston

CHARLESTON, S.C. — Cushman & Wakefield has arranged a $37.1 million refinancing loan for Wellmore of Daniel Island, an assisted living, memory care and skilled nursing community in Charleston. Wellmore of Daniel Island is a 186-unit, 198-bed community that opened in 2018. It is located within the Daniel Island area, near downtown Charleston and overlooking the Daniel Island Club Beresford Creek golf course. Truist Financial provided the loan to the borrower and owner, an affiliate of Maxwell …

Loans, Multifamily, Seniors Housing, South Carolina, Southeast

TSCG Brokers Sale of Grocery-Anchored Shopping Center in Southeast Orlando

ORLANDO, FLA. — TSCG has arranged the sale of The Shoppes at South Semoran, a 101,611-square-foot shopping center in Orlando. The property was originally built in 1986 and renovated in 2013, when anchor Walmart Neighborhood Market opened. At the time of sale, the property was 97 percent leased to tenants including Walmart, Chase Bank, Dollar Tree and Wendy’s. The asset is situated at 4520 S. Semoran Blvd., seven miles southeast of downtown Orlando. Anthony Blanco, Lenard Williams, Mallory …

Acquisitions, Florida, Retail, Southeast

Investment Management Firm Expands Lease in Miami Beach, Breaking Florida’s Rental Rate Record Per Square Foot

MIAMI BEACH, FLA. — J. Goldman & Co. LLP, an independent investment management firm, has signed an eight-year lease for 3,318 square feet of office space and a 700-square-foot covered terrace at The Yukon Miami. J. Goldman, which already leases 1,223 square feet on the fourth floor of the Class A office building, broke Florida’s per square foot rental rate pricing record with the new lease at $92 per square foot. The 88,148-square-foot Yukon Miami is situated at 119 Washington Ave. in Miami …

Florida, Leasing Activity, Office, Southeast

Is it Time to Start Investing in Richmond’s Office Market? All Signs Point to ‘Yes’

Richmond has been considered a secondary market in the eyes of many national investors, and for good reason. Rental rates don’t compare to Washington D.C., New York City or other major primary markets. But a strong leasing market mixed with a large-scale population shift leads to one question: is now the time to start investing in the Richmond office market?[caption id="attachment_273583" align="alignleft" width="100"] Cameron Maxey, NAI Dominion[/caption]Home to seven Fortune 500 …

Market Reports, Office, Southeast, Southeast Market Reports, Virginia

North American Properties to Open 42,000 SF Food Hall at Midtown Atlanta’s Colony Square in Spring 2021

ATLANTA — North American Properties (NAP) is planning to open Politan Row, a 42,000-square-foot food hall, at its Colony Square mixed-use development in Midtown Atlanta. The interior of Politan Row will span 20,000 square feet, while the outdoor area will total 22,000 square feet. New Orleans-based Politan Group will operate the food hall, which is expected to open in spring 2021. Colony Square is located near the intersection of Peachtree and 14th streets, three miles north of downtown …

Development, Georgia, Retail, Southeast

NRF: Retail Imports Pick Up Ahead of Holiday Season

WASHINGTON, D.C. — The National Retail Federation (NRF) has reported that retailers unexpectedly increased imports for the holiday season, according to the monthly Global Port Tracker, which is released by the NRF and Hackett Associates. The expected twenty-foot equivalent units (TEUs) for the period between July and October is now just shy of 7.6 million, which would make 2020 the third-highest holiday “peak season” on record, the Washington, D.C.-based organization said.“It’s …

District of Columbia, Retail, Southeast

Berkadia Provides $37.7M Refinancing Loan for Apartment Community Near Atlanta

NORCROSS, GA. — Berkadia has provided a $37.7 million Freddie Mac refinancing loan for The Reserve at Gwinnett, a 370-unit apartment community in Norcross. The 10-year loan features a fixed interest rate. Corby Chaffin and Michael Weinberg of Berkadia originated the financing on behalf of the owner, Broadtree Residential Inc. The Reserve at Gwinnett was built in 1999 and comprises 14 residential buildings offering one- through three-bedroom floor plans. Units range in size from 959 to 1,555 …

Georgia, Loans, Multifamily, Southeast

Marcus & Millichap Negotiates $2.3M Sale of CVS-Anchored Retail Property in Metro Atlanta

LILBURN, GA. — Marcus & Millichap has negotiated the $2.3 million sale of a 13,375-square-foot retail property in Lilburn. CVS/pharmacy anchors the three-tenant asset, which was also leased to Lee Nails and Domino’s Pizza at the time of sale. The property is situated at 5575 Lawrenceville Highway, 18 miles northeast of downtown Atlanta. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, the Schwaighoffer Brothers, in the transaction. The buyer …

Acquisitions, Georgia, Retail, Southeast
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